Canplats Adds to Management Team and Commences Follow-Up Reconnaissance Exploration Program
September 09 2009 - 8:30AM
Marketwired Canada
Canplats Resources Corporation (TSX VENTURE:CPQ) is pleased to announce the
appointment of Richard Dufresne, P.Geo., to the position of Exploration Manager.
Mr. Dufresne brings to Canplats more than 22 years of experience in the mineral
exploration and development industry. He previously worked with a number of
major mining companies including Anglo American Exploration (Canada), where he
was Senior Geologist responsible for managing exploration in Eastern Canada, and
Falconbridge Ltd. (which was subsequently acquired by Xstrata), where he was
involved in the exploration and development of the Raglan nickel mine. Mr.
Dufresne has considerable international exploration experience in Peru, Mexico,
the Dominican Republic and the Ivory Coast. He has participated in several new
discoveries in the Raglan district of northern Quebec and the central
lead-zinc-silver belt in Peru, where one discovery was recognized as the Mining
Prospect of the Year by the Peruvian Mining Merit Awards Committee in 2002. Mr.
Dufresne graduated from the University of Montreal with a B.Sc. in geology and
is a member of the Ordre des Geologues du Quebec (Geo) and the Association of
Professional Geoscientists of Ontario (P.Geo.).
Mr. Dufresne will direct follow-up reconnaissance exploration activities at the
359,000 hectare (1,390 square miles) Camino Rojo project in north-central
Mexico, where initial geological and geochemical exploration has identified
several new prospective areas (please see news release dated May 28, 2009 and
location maps at www.canplats.com). These include the Cerro Verde area, where
extensive replacement and structurally controlled jasperoid zones are associated
with highly-elevated antimony, molybdenum, silver, lead and zinc and anomalous
gold values over an area measuring 7 kilometers by 13 kilometers. Further
geological mapping, stream sediment sampling, prospecting, and geophysical
surveys will be completed at Cerro Verde and several other large-scale target
areas, including Calabazal, Jandel's Quarry, Gomez Ranch, Camino Rojo Dos and
Cardito. The Camino Rojo project is considered to be highly-prospective for new
discoveries and only a portion of the property has been investigated to date
through systematic reconnaissance exploration activities.
The Camino Rojo project hosts measured and indicated resources estimated at 3.44
million ounces of gold and 60.7 million ounces of silver at the Represa Zone
with additional inferred resources of 0.56 million ounces of gold and 7.6
million ounces of silver (see news release dated November 24, 2008 and table to
follow). Mineralization remains open for further expansion in both strike
directions and to depth.
The Represa Zone is situated in flat terrain within an area of excellent
infrastructure, less than 5 kilometers from a paved highway and high voltage
power lines. Canplats is actively pursuing the acquisition of surface rights in
the Represa area.
REPRESA MINERAL RESOURCE SUMMARY(i)
---------------------------------------------------------------------------
Size Grade
-------- ----------------------------- Gold Silver
Tonnes Gold Silver Zinc Lead Ounces Ounces
Category (Millions) (g/t) (g/t) (%) (%) (000's) (000's)
---------------------------------------------------------------------------
Measured 9.58 0.76 13.40 0.34 0.29 235 4,126
---------------------------------------------------------------------------
Indicated 153.81 0.65 11.44 0.37 0.18 3,210 56,582
---------------------------------------------------------------------------
Total M&I 163.39 0.66 11.56 0.37 0.19 3,445 60,708
---------------------------------------------------------------------------
Inferred 31.03 0.56 7.63 0.31 0.10 555 7,612
---------------------------------------------------------------------------
(i) Based upon a cut-off grade of 0.2 grams gold per tonne for oxide and
transitional resources, with a cut-off grade of 0.3 grams gold per
tonne for sulphide resources.
To receive Canplats' news releases by e-mail, contact Blaine Monaghan, Director,
Investor Relations, at info@canplats.com or (866) 338-0047.
Statements contained in this news release that are not historical fact, such as
statements regarding the economic prospects of the company's projects, future
plans or future revenues, timing of development or potential expansion or
improvements, are forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. Such forward looking
statements are subject to risks and uncertainties which could cause actual
results to differ materially from estimated results. Such risks and
uncertainties include, but are not limited to, the company's ability to raise
sufficient capital to fund development, changes in economic conditions or
financial markets, changes in prices for the company's mineral products or
increases in input costs, litigation, legislative, environmental and other
judicial, regulatory, political and competitive developments in Mexico,
technological and operational difficulties or inability to obtain permits
encountered in connection with exploration and development activities, labour
relations matters, and changing foreign exchange rates, all of which are
described more fully in the company's filings with the Securities and Exchange
Commission.
Cautionary note to U.S. investors: The terms "measured mineral resource",
"indicated mineral resource", and "inferred mineral resource" used in this news
release are Canadian geological and mining terms as defined in accordance with
National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI
43-101") under the guidelines set out in the Canadian Institute of Mining,
Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral
Reserves. We advise U.S. investors that while such terms are recognized and
permitted under Canadian regulations, the SEC does not recognize them. U.S.
investors are cautioned not to assume that any part or all of the mineral
deposits in the measured and indicated categories will ever be converted into
reserves. "Inferred mineral resources" in particular have a great amount of
uncertainty as to their economic feasibility. It cannot be assumed that all or
any part of an inferred mineral resource will ever be upgraded to a higher
category. Under Canadian rules estimates of inferred mineral resources may not
generally form the basis of feasibility or other economic studies. U.S.
investors are cautioned not to assume that any part or all of an inferred
mineral resource exists, or is economically or legally mineable. Disclosure of
contained metal expressed in ounces is in compliance with NI 43-101, but does
not meet the requirements of Industry Guide 7 of the SEC, which will only accept
the disclosure of tonnage and grade estimates for non-reserve mineralization.
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